×

We are excited to announce that as of February 1, Wood Mackenzie is a portfolio company of Veritas Capital, a leading investor at the intersection of technology and government. Our focus remains on providing you with the best intelligence, analytics, data and tools to ensure you are making the best data-driven business decisions with confidence.  

Read more in our news release here. 

Commodity Market Report

North America gas weekly update: Henry Hub gas prices in free fall

Get this report

$1,700

You can pay by card or invoice

Contact us

Submit your details to receive further information about this report.

For details on how your data is used and stored, see our Privacy Notice.
 

- FAQs about online orders
- Find out more about subscriptions

31 January 2023

North America gas weekly update: Henry Hub gas prices in free fall

Report summary

Colder weather, freeze-offs, and even Freeport LNG’s continued progress toward restart have failed to provide support for Henry Hub gas prices. The February 2023 NYMEX contract bravely expired above $3/mmbtu, losing more than half its value versus the December 2022 contract. The now-prompt March contract is falling further, below $2.70/mmbtu. How much lower will we go? Freeport LNG’s imminent return to full utilization later in February will tighten up markets by about 2 bcfd. However, more may be necessary to avoid storage containment during the upcoming injection season: • Gas burns need to increase further and take market share away from coal. • In combination, US gas production needs to slow down by deferring well completions. • But as a method of last resort, shutting in flowing gas production sets the price floor.

Table of contents

  • No table of contents specified

Tables and charts

No table or charts specified

What's included

This report contains:

  • Document

    Imbalance Chart Pred.xlsx

    XLSX 479.48 KB

  • Document

    Scrape Data.xlsx

    XLSX 504.86 KB

  • Document

    Weather Index.xlsx

    XLSX 136.75 KB

  • Document

    Weekly 31 January 2023.pdf

    PDF 605.74 KB